Daily Archives: July 22, 2021

NSW payroll tax – further reductions and deferrals for latest July 2021 COVID-19 lockdown (and other relief summarised)

On Thursday 22.7.2021, the NSW Treasurer announced further Covid related Payroll Tax Relief including reductions, deferrals and interest free payment plans. In the same Media Release, the Treasurer listed the other main relief measures for this July 2021 lockdown. See below for further details. [Tax Month – July 2021]     On Thursday 22.7.2021, the…

R v Gore – Former Qld property developer loses his appeal against his conviction for defrauding SMSF investors by knowingly borrowing money without prospect of repayment (5 years jail, 2 years non-parole)

On 20.7.2021, a former property developer, in Queensland, lost his appeal, against convictions for 6 counts of fraud, which carried a 5 year jail sentence (2 years non-parole). The facts proven were that he solicited about $800k of loans from SMSFs, on behalf of a company, which he knew had no real prospect of being…

Tomkinson v TPB – Tax agent’s registration cancelled for mishandling personal tax affairs, false statement & breaching conditions of his ‘stay’

On 8 July 2021, the AAT confirmed the Tax Practitioners Board decision that a tax agent’s registration be cancelled and he be unable to reapply for 18 months. This was because he had multiple failures in relation to his own tax affairs (which is a breach of the Code of Practice), made a false statement…

SA land tax: – Comr of State Taxation v Takhar & Anor – land that didn’t produce a crop for 22 years, was eligible for the primary production land tax exemption, in the year prior to its first crop

The South Australian Court of Appeal agreed, with the Court at first instance, that certain South Australian rural land, was exempt from land tax, under the relevant ‘primary production’ exemptions, when the land produced its first crop, the next year. The taxpayers bought the land 22 years earlier, for primary production, but it had not…

Vic stamp duty – Razzy Australia Pty Ltd & Anor v Comr of State Revenue (Vic) – Commissioner ordered to pay the maximum penalty interest of 10% on refunded duty (not lower market rate)

The Victorian Supreme Court has ordered that interest on refunded stamp duty be paid at the maximum penalty rate under the Supreme Court Act (10%) and not at a lower “market rate” under the Victorian Taxation Administration Act. See below for further details. [Tax Month – July 2021]     In March 2021, in 2 related proceedings, the…

Federal Government regulation to make certain Victorian Covid financial support payments exempt from income tax

The Federal Income Tax law has been amended to allow Covid-19 financial support to be tax free to the recipient, if gazetted as such (s59-97). On 16.7.21, the Treasurer made such a declaration and on Tues 20.7.21, it was registered on the Federal Register of Legislation, citing certain Victorian State relief payments to be exempt.…

As South Australia ‘joins the Covid Lockdown party’ – State and Federal Support Benefits announced (like Vic & NSW)

As South Australia ‘joins the [lockdown] party’, on Tuesday 20 July 2021, the State and Federal Governments announce a combination of State and Federal Covid-19 financial support measures, very similar to those in operation in NSW and Victoria. See below for further detail and relevant links. [Tax Month – July 2021]     COVID-19 disaster…